Noteholders oppose fee for Pacific Drilling's investment banker

A representative for Pacific Drilling SA’s noteholders wants a court order rejecting fee terms for the company’s investment banker, arguing they could strap the drillship operator with a “tax” of more than $10 million when it emerges from bankruptcy.

Pacific Drilling filed for Chapter 11 bankruptcy protection in November after failing to reach an out-of-court restructuring with its stakeholders.

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